Hydrocracking converts heavy feeds mainly into middle distillate products. Co-processing these bio-feeds with vacuum gas oil is a possible production route for biofuels. Stabilized bio-liquid from fast pyrolysis and hydrothermal liquefaction bio-crude were mixed with vacuum gas oil (10–20 wt%) and hydrocracked over a bifunctional catalyst. The impact of the bio-liquids on conversion and middle distillate selectivity were investigated. The liquid products were analyzed by several methods such as 2-dimensional gas chromatography coupled with simulated distillation to obtain quantitative distribution of monoaromatics, polyaromatics and saturated hydrocarbons. A quantification study of different types of carbons was performed by 13C NMR and showed the evolution of products. The nature of bio-liquid impacts slightly on the conversion and gas production but not on the selectivity of middle distillates and naphtha. This is explained by a decoupled hydrodeoxygenation and hydrocracking process. This also resulted in a high hydrodesulfurization conversion.